UK Budget 2020 – IPT Gains a Reprieve

The Chancellor of the Exchequer announced his UK budget for 2020 earlier today. After three rate rises in the previous five years, Insurance Premium Tax (IPT) gained a reprieve from any further increases.

The Chancellor mentioned in his Budget document that the Government will shortly publish a summary of responses to the recent call for evidence on the operation of IPT, and details for the next stages of potential IPT reform.

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Author

Elliot Shulver

Elliot Shulver is a Manager, IPT compliance for indirect tax at Sovos. He joined the company in April 2014, having spent the previous two and a half years living and working in Australia and New Zealand. He is responsible for Gambling Duties, as well as researching and managing consultancy projects and technical knowledge for IPT.
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